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Trade Idea: Bitcoin broke a 4H support but then immediately closed above this support the very next candle. This caused a fake out and a lot of trapped traders that are in shorts
Reasons for trade:
1: Fake out
2: reclaiming of support
3: 200 4H EMA is under us acting as support
4: 4H Stochs about to turn up
Trade confidence: 6/10 (only reason this isn't higher is because the volume isn't supporting this move up
RR: 4.63
Trade Idea: Bitcoin broke a 4H support but then immediately closed above this support the very next candle. This caused a fake out and a lot of trapped traders that are in shorts
Reasons for trade:
1: Fake out
2: reclaiming of support
3: 200 4H EMA is under us acting as support
4: 4H Stochs about to turn up
Trade confidence: 6/10 (only reason this isn't higher is because the volume isn't supporting this move up
RR: 4.63